Investment Management Corp of Ontario Purchases 16,187 Shares of DoorDash, Inc. $DASH

Investment Management Corp of Ontario increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 23.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,094 shares of the company’s stock after acquiring an additional 16,187 shares during the quarter. Investment Management Corp of Ontario’s holdings in DoorDash were worth $20,730,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in DoorDash during the 2nd quarter valued at $1,185,576,000. Vanguard Group Inc. raised its holdings in shares of DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after acquiring an additional 1,792,799 shares during the last quarter. AQR Capital Management LLC lifted its position in DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after acquiring an additional 1,497,636 shares in the last quarter. Nuveen LLC acquired a new position in DoorDash during the 1st quarter valued at about $211,415,000. Finally, Northern Trust Corp increased its holdings in DoorDash by 38.2% during the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock worth $604,829,000 after purchasing an additional 915,512 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

Shares of DASH stock opened at $225.43 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $97.16 billion, a price-to-earnings ratio of 114.43 and a beta of 1.72. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The firm’s 50-day simple moving average is $236.35 and its two-hundred day simple moving average is $239.54.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on DASH shares. Bank of America cut their target price on DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Oppenheimer reissued an “outperform” rating and set a $280.00 price target on shares of DoorDash in a research report on Thursday, November 6th. Zacks Research downgraded shares of DoorDash from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. DA Davidson reiterated a “neutral” rating and issued a $260.00 price objective on shares of DoorDash in a research note on Thursday, November 6th. Finally, Barclays dropped their target price on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $275.62.

Insiders Place Their Bets

In other news, Director Alfred Lin acquired 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average price of $199.01 per share, with a total value of $24,876,250.00. Following the acquisition, the director owned 514,047 shares in the company, valued at $102,300,493.47. The trade was a 32.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andy Fang sold 25,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $204.95, for a total value of $5,123,750.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 679,563 shares of company stock valued at $152,902,593. Company insiders own 5.83% of the company’s stock.

About DoorDash

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.